Spotlight

Indian equity markets are expected to open on a cautious note as renewed geopolitical tensions following a fresh round of military strikes between the United States and Iran have reignited concerns over global energy supplies and heightened risk aversion across financial markets. The escalation has triggered a sharp rebound in crude oil prices, weighing on overall investor sentiment. Gift Nifty is currently trading around the 24,100 mark, below Friday's Nifty close of 24,206.90, indicating a gap-down start for domestic equities.

Crude oil prices have climbed into the $74–75 per barrel range after the latest U.S. strikes on Iran revived fears of potential supply disruptions in the Middle East. Sustained strength in energy prices could keep inflationary pressures elevated, widen India's import bill, and remain a key headwind for the country's macroeconomic outlook.

Meanwhile, gold prices have retreated despite the geopolitical escalation, as a stronger U.S. dollar and expectations of a higher-for-longer interest rate stance by the Federal Reserve outweighed safe-haven demand. Investors are increasingly pricing in the possibility that prolonged geopolitical tensions and elevated energy prices could keep inflation risks higher for longer, reducing expectations of an early shift towards monetary policy easing.

Technical view

Nifty 50

Nifty 50 continues to maintain a constructive technical structure after extending its recovery above the 24,200 mark. From a technical perspective, the 24,300–24,400 region remains the immediate resistance zone. A sustained breakout above this band would reinforce bullish momentum and could pave the way for an advance towards the 24,500–24,600 region.
 
On the downside, the 24,100 level, which coincides with the 100-day EMA, is expected to provide immediate support, followed by the 24,000 psychological mark. Holding above these levels will be crucial to preserve the prevailing recovery structure. However, a decisive break below 24,000 could trigger renewed selling pressure and drag the index towards the 23,900–23,800 region. Overall, the near-term technical outlook remains cautiously positive, with a sustained move above the 24,300–24,400 resistance zone required to confirm the continuation of the broader recovery.

Bank Nifty

Bank Nifty continues to exhibit a constructive technical structure after reclaiming the 58,000 psychological level. From a technical perspective, the 58,200–58,300 zone remains the immediate resistance. A sustained move above this region would strengthen bullish momentum and could extend the recovery towards the 58,600–58,700 zone, followed by the 59,000 psychological mark.
 
On the downside, the 58,000 level is expected to act as immediate support, followed by the 57,800–57,700 zone. Holding above these levels will be essential to maintain the prevailing recovery structure. However, a decisive break below 57,700 could trigger profit booking and drag the index towards the 57,500–57,300 support region. Overall, the near-term technical outlook remains cautiously positive, with a sustained breakout above the 58,200–58,300 resistance zone required to confirm the next leg of the ongoing recovery.